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GSEs Add New UCDP Platform Provider

""Fannie Mae"":www.fanniemae.com/ and ""Freddie Mac"":www.freddiemac.com/ have selected a new integration platform provider, with the announcement that ""Solidifi U.S."":solidifi.com/ will become one of the GSE's partners for their ""Uniform Collateral Data Portal"":https://www.efanniemae.com/sf/technology/commitloandel/ucdp/ (UCDP) module. Part of the ""Uniform Mortgage Data Program"":www.efanniemae.com/sf/lqi/umdp/ (UMDP), the UCDP acts as the sole portal for the submission of electronic appraisal information to the GSEs, and the technology initiative from Fannie and Freddie targets the enhancement of quality and consistency across all appraisal-related activities.

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Solidifi will now work collaboratively with the UCDP module, facilitating the company's lender client's seamless submission of

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GSE-mandated ""Uniform Appraisal Dataset"":www.efanniemae.com/sf/lqi/umdp/uad/index.jsp (UAD) compliant reports. Customers of Solidifi won't incur any additional charges when using the entity's service to deliver the UAD paperwork, and the integrated relationship between the GSE's UCDP and Solidifi will help participating lenders limit both time and money spent on submitting compliant data files related to appraisals.

Loren Cook, executive vice president of Solidifi U.S., said of the company's new relationship with the UCDP platform, ""I'm thrilled we're an integration platform provider and working with Fannie Mae and Freddie Mac.├âÔÇÜ├é┬á We've worked incredibly hard to earn the trust of our lender and appraiser partners and we look forward to providing a value-added service that allows existing and future clients to seamlessly submit Uniform Appraisal Dataset compliant appraisals to the GSEs at no charge.""

The implementation deadline for lender compliance with Fannie and Freddie's UAD model went into effect on September 1, and as of December 1, lenders must also be prepared to collect fully compliant appraisal reports on loan applications dated on or after that date. March 19, 2012, will bring about an additional phase of lender mandates related to the UMDP, and from that day forward, all lenders must electronically deliver their fully UAD-compliant reports for all loans carrying application dates of December 1 or later.

About Author: Abby Gregory

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